Understanding Consumer Behavior.pdf - Understanding...

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Unformatted text preview: Understanding Consumer Behavior Monday, 11 September 2017 10:14 am Consumer Behaviour: The totality of decisions about the consumption of offerings by decision-­‐makers (consumers) over time • Consumption ○ Obtaining ○ Consuming ○ Disposing • Offerings ○ Products ○ Services ○ Activities ○ People ○ Ideas • Influences on CB: ○ Consumer factors § Culture, age, motivations ○ Marketing factors § Pricing, advertising, service Goal of Consumer Behaviour: To be able to analyze and understand consumer behavior and recommend marketing strategies based on theories and e mpirical evidence • Predict and understand reaction to changes • Predict long-­‐term product success • Predict new product success Segmentation: Grouping people with needs / behaviors that are similar to each other, but different from other groups Targeting: • Deciding what segments to serve • Create products and services that fulfill the needs of the targeted segments • Identifying the segment through behavior, demographics, psychographics • Create products and services that fulfill the needs of the targeted segments • Identifying the segment through behavior, demographics, psychographics...
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